2025-11-13T14:46:35-05:00 2024-12-31 273408302 KOLQUIST SEITZ & GOLDMAN LLC 130 W SUPERIOR ST STE 926 DULUTH MN 558022056 990 2024-01-01 452892768 TWO HARBORS DEVELOPMENT FUND INC TWOH 2188343300 115 WATERFRONT DRIVE TWO HARBORS MN 55616 DARRIN YOUNG PRESIDENT 2188345631 2025-10-28 false JENNIFER MILLER P00714209 2187278030 2025-10-28 2024 2025-03-06 01:10:19Z DARRIN YOUNG 32424 false X X 1986 MN TO PROMOTE THE ECONOMIC DEVELOPMENT WITHIN AND SURROUNDING THE CITY OF TWO HARBORS BY PROVIDING LOANS OR OTHER FINANCIAL AID TO BUSINESSES WHICH ARE NOT ABLE TO OBTAIN ADEQUATE FINANCING THROUGH OTHER MEANS. 4 4 0 0 0 16923 32424 0 0 16923 32424 0 0 0 0 0 21854 8413 21854 8413 -4931 24011 902442 926453 0 902442 926453 TO PROMOTE THE ECONOMIC DEVELOPMENT WITHIN AND SURROUNDING THE CITY OF TWO HARBORS BY PROVIDING LOANS OR OTHER FINANCIAL AID TO BUSINESSES WHICH ARE NOT ABLE TO OBTAIN ADEQUATE FINANCING THROUGH OTHER MEANS. false false 8413 LEGAL AND PROFESSIONAL FEES AND MISCELLANEOUS EXPENSES RELATED TO COLLECTING INTEREST INCOME ON LOANS PROVIDED TO BUSINESSES IN CONJUNCTION WITH PROMOTING THE ECONOMIC DEVELOPMENT WITHIN AND SURROUNDING THE CITY OF TWO HARBORS. 8413 true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 3 0 false 0 false false false false false false false false X 4 4 false false false false false true false true true false false false true true true false false false false false MN X SHELLY PETERSON 2188343300 115 WATERFRONT DR TWO HARBORS MN 55616 X JON CHAPEK VICE PRESIDE X X 0 0 0 BOB JOHANSEN SECRETARY X X 0 0 0 JENNIFER MILLER TREASURER X X 0 0 0 DARRIN YOUNG PRESIDENT X X 0 0 0 false false false INTEREST ON LENDING 32424 32424 32424 32424 32424 3243 3243 5050 5050 120 120 8413 8413 0 0 369102 474587 533340 451866 902442 926453 0 0 X 902442 926453 902442 926453 902442 926453 24011 X false false X 9937 16923 32424 59284 9937 16923 32424 59284 59284 9937 16923 32424 59284 1.00000 1.00000 0.00000 0.00000 X FORM 990 THE CITY OF TWO HARBORS DOES NOT WISH TO CONTINUE THE AGREEMENT AND HAS PASSED A RESOLUTION ON AUGUST 22, 2022, WAIVING ANY RIGHTS IT HAS TO ENFORCE THE AGREEMENT AND ALLOWING THDF AMEND ITS ARTICLES OF INCORPORATION AND BYLAWS TO FUNCTION AS A SEPARATE ENTITY WITHOUT ANY INVOLVEMENT OR CONTROL BY THE CITY AND IT IS IN THE BEST INTERESTS OF THE THDF AND THE PURPOSES FOR WHICH IT WAS FORMED TO SEPARATE AND TERMINATE ALL RELATIONSHIPS WITH THE CITY OF TWO HARBORS, CONTRACTUAL OR OTHERWISE, AND THE AGREEMENT IS TERMINATED UPON MUTUAL AGREEMENT OF BOTH THDF AND THE CITY, WITHOUT PENALTY OR REQUIRING DISSOLUTION OF THDF OR DISTRIBUTION OF ITS FUNDS AND THDF HAS THEREFORE AMENDED ITS ARTICLES OF INCORPORATION AND BYLAWS, AND ALL RELATIONS BETWEEN THE TWO ENTITIES ARE HEREBY DISSOLVED EFFECTIVE AT 12:00 A.M. ON AUGUST 31, 2022,WITH NEITHER ENTITY HAVING ANY OBLIGATIONS TO THE OTHER AFTER THAT TIME. FORM 990, PAGE 6, PART VI, LINE 7A BOARD IS NOMINATED AND APPOINTED BY A MAJORITY VOTE OF CURRENT MEMBERS FORM 990, PAGE 6, PART VI, LINE 11B THERE IS A BRIEF REVIEW PROCESS OF THE 990 BY THE BOARD AND IS SIGNED BY THE PRESIDENT. FORM 990, PAGE 6, PART VI, LINE 12C THE TWO HARBORS DEVELOPMENT FUND HAS A CONFLICT OF INTEREST POLICY, EACH MEMBER SIGNS AT THE BEGINNING OF THE YEAR. MEMBERS ARE REQUIRED TO NOTIFY THE BOARD IF THERE IS ANY CONFLICT OF INTEREST FOR ANY OF THE LOAN APPLICANTS RECEIVED. IF THERE IS A CONFLICT OF INTEREST, THE BOARD MEMBER IS NOT ALLOWED TO BE PRESENT WHILE DISCUSSING THE APPLICANT IN CONFLICT. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.